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20121205
20121205
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. >> one key part of the plans is the creation of a banking union. finance ministers were supposed to be discussing the first steps to building such a union today, but the talks collapsed without progress. the discussions are very contentious, mainly because of the devolution of national powers to brussels. our correspondent has been following the talks and explained why they collapsed. >> another meeting on this next question, another failure. basically, the differences between member states were not healed. on the one side, you've got germany being very questioning about the central core idea, which is that the european central bank will become the supervisory body for the whole euro banking area, insuring heavy capitalization of banks to bolster them against future economic shocks. germany does not think that is necessarily the right body to do it. it certainly does not think that all 6000 banks in europe should be involved. france on the other hand -- france and spain leading the charge, saying that this must be done now. financial markets are being very good and not panicking,
discussions here, especially on the outline we put forward, show that the christian democratic union is a foundation for a strong germany, a journey in which everyone gets a fair chance -- a germany in which everyone gets a fair chance. >> the party has rallied behind her ahead of next year's election, including traditional conservatives who have been could assert -- critical of her positions at times. >> we would be foolish not to take advantage of the recognition that the chancellor and joyous -- chancellor enjoys. >> the party did make some changes to the line up behind the chancellor with a re- shuffle of the executive board. >> there are a lot of new faces, women, people with immigrant backgrounds. i am happy that our party is now more reflective of our country's diversity. >> chancellor merkel can rest assured that her party is behind her. even before the campaign begins in earnest, she will have our hands full with the eurozone debt crisis and other problems -- have her hands full with the eurozone debt crisis and other problems. >> protesters clashed with mohamed morsi's supp
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